He stated that a dividend of Rs 17.5 per share, bringing the total to Rs 34 per share, had been approved by the board.
Despite unsolved moral and intellectual property (IPR) concerns regarding the technology, Infosys’ artificial intelligence-first business approach is profitable for the company, according to Infosys Chairman Nandan Nilekani on Wednesday.
Nilekani remarked in his speech at Infosys’ 42nd Annual General Meeting that given the company’s performance in trying circumstances brought on by inflation, interest rates, geopolitics, demand volatility, and supply chain disruptions, it can be more effective while fostering readiness for growth.
“Several AI-related practical, ethical, and intellectual property-related issues are still up for discussion. We are also aware of how difficult it is to scale AI in businesses. However, the AI-first approach we’re adopting is already paying off for us, Nilekani remarked.
He announced that a dividend of Rs 17.5 per share, bringing the total to Rs 34 per share, had been approved by the board.
Since fiscal year 2020, “the company has returned about 86% of free cash flow to shareholders,” Nilekani noted.
Infosys also disclosed that it paid out USD 3.1 billion in dividends and USD 1.4 billion in share buybacks to shareholders last year, totaling USD 3.1 billion.
Over 50,000 college graduates were hired by the company, according to Nilekani, bringing the total to over 3.4 lakh workers, 39% of whom were women.
During the AGM, a number of shareholders questioned the board about why the company did not choose for a tender repurchase, which they believed would have provided them with larger profits.
